Axa Xl

AXA XL, an Insurance and pension funding services company, reported total carbon emissions of approximately 37.1 million kg CO2e in 2024. This global figure includes 911,000 kg CO2e from Scope 1 emissions, about 4.05 million kg CO2e from Scope 2 market-based emissions, and approximately 32.19 million kg CO2e from Scope 3 emissions. Notably, Scope 3 investments accounted for about 4.66 billion kg CO2e in 2024.

Looking back, AXA XL's total emissions have fluctuated, with approximately 39.07 million kg CO2e in 2023, 26.65 million kg CO2e in 2022, and 19.63 million kg CO2e in 2021. Their 2019 total emissions were significantly higher at approximately 45.79 million kg CO2e, including about 1.82 million kg CO2e (Scope 1), 6.16 million kg CO2e (Scope 2 market-based), and 37.81 million kg CO2e (Scope 3), with investments contributing about 11.71 billion kg CO2e. In 2017, the company reported total emissions of approximately 59.39 million kg CO2e, comprising around 2.43 million kg CO2e from Scope 1 (stationary combustion), 9.73 million kg CO2e from Scope 2 (purchased electricity), and 37.66 million kg CO2e from various Scope 3 categories, including business travel (about 31.94 million kg CO2e), employee commute (about 5.04 million kg CO2e), purchased goods and services (249,000 kg CO2e), and waste generated in operations (453,000 kg CO2e).

AXA XL's climate commitments include a near-term target to decrease the carbon footprint of AXA’s general account assets by 20% by 2025, starting from a 2023 baseline. These reduction initiatives are cascaded from its parent company, AXA SA.